Gbpchfshort
GBPCHF A1 Short B GradeHere is a look at my short entry on GBPCHF from yesterday afternoon. My Trade had 2 knocks against it as I was trading into the 800EMA and divergence, so I was very quick to pull my trade when it went against me. I had 1.5% risk on my trade and managed to close all at 1.26817, resulting in a loss of -0.66%. Unfortunately for me, this time around price carried on to go and hit my profit target of 2R, but most times price will just reverse and fully stop one out, as I've seen with previous losing trades. Overall a lesson learnt here was to use less risk when trading into something like this. I'm happy with the result as I followed my rules.
GBP/CHF:DOWNTREND | PRICE ACTION SHORT SETUP...Welcome back Traders, Investors, and Community!
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Wait for Key level breakout and sell signal with GBPCHFH2 time frame.
Structure: The uptrend was broken when the down move broke the Key level at 1.26600.
There is now a smaller uptrend forming within the range of the previous down move and a new key level appears at 1.26200.
Wait for the price to break this Key level and have a retest move, then look for selling opportunities with price targets of 1.25600 and 1.24800.
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GBPCHF MORE BLOOD TO COME• Price broke out of its bigger channel – 90% chance of it coming all the way to the downside
• Bearish impulsive move and a correction – next impulse is likely to bearish
• Correctly in corrective state which creates a bearish flag (a small channel)
• Price is at the top of the smaller channel
Tue 21st Sep 2021 GBPCHF Daily Forex Chart Sell SetupThis is a tough and you can see my notes on the chart. It is very range bound and price is right at the MAs. If you didn't take it, then that would be quite understandable. I'm actually standing aside on a sell on the GBP/JPY as it is. If you do take the sell, just watch your risk, and if you can, I'd be leaving that partial buy trade on with the stop inside the entry. Cheers.